The Descartes Systems Group Inc. (NASDAQ:DSGX) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• The Descartes Systems Group Inc. has received an average rating of "Moderate Buy" from ten brokerage firms, with four hold ratings and six buy ratings.
• The stock's average twelve-month target price is approximately $123.44, reflecting varying target adjustments from different analysts, including a cut from Royal Bank of Canada.
• In its recent earnings report, the company missed earnings per share expectations, posting $0.43 compared to an expected $0.49, although it achieved a year-over-year revenue growth of 10%.

Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Get Free Report) TSE: DSG have been assigned a consensus rating of "Moderate Buy" from the ten ratings firms that are presently covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $123.4444.

A number of brokerages have recently commented on DSGX. Wall Street Zen raised shares of The Descartes Systems Group from a "sell" rating to a "hold" rating in a report on Friday, September 5th. Morgan Stanley assumed coverage on The Descartes Systems Group in a report on Monday, July 14th. They issued an "equal weight" rating and a $110.00 target price for the company. Zacks Research raised The Descartes Systems Group from a "strong sell" rating to a "hold" rating in a research note on Tuesday, September 2nd. Royal Bank Of Canada lowered their price objective on shares of The Descartes Systems Group from $130.00 to $126.00 and set an "outperform" rating on the stock in a research note on Thursday, June 5th. Finally, Barclays reduced their price objective on The Descartes Systems Group from $118.00 to $108.00 and set an "equal weight" rating on the stock in a research report on Thursday, June 5th.

Institutional Trading of The Descartes Systems Group

Institutional investors and hedge funds have recently made changes to their positions in the company. NBC Securities Inc. acquired a new position in shares of The Descartes Systems Group during the first quarter worth about $25,000. Cullen Frost Bankers Inc. acquired a new position in shares of The Descartes Systems Group during the first quarter worth $49,000. SBI Securities Co. Ltd. boosted its stake in shares of The Descartes Systems Group by 77.0% in the second quarter. SBI Securities Co. Ltd. now owns 570 shares of the technology company's stock valued at $58,000 after purchasing an additional 248 shares during the period. Parallel Advisors LLC boosted its stake in shares of The Descartes Systems Group by 35.1% in the second quarter. Parallel Advisors LLC now owns 585 shares of the technology company's stock valued at $59,000 after purchasing an additional 152 shares during the period. Finally, GAMMA Investing LLC grew its holdings in The Descartes Systems Group by 23.2% during the 2nd quarter. GAMMA Investing LLC now owns 622 shares of the technology company's stock valued at $63,000 after purchasing an additional 117 shares in the last quarter. 77.73% of the stock is currently owned by institutional investors and hedge funds.

The Descartes Systems Group Trading Down 1.4%

The Descartes Systems Group stock opened at $94.94 on Friday. The company has a fifty day simple moving average of $102.25 and a 200-day simple moving average of $103.57. The stock has a market cap of $8.16 billion, a P/E ratio of 56.18 and a beta of 0.80. The Descartes Systems Group has a 12-month low of $92.00 and a 12-month high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last issued its earnings results on Wednesday, September 3rd. The technology company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.06). The Descartes Systems Group had a return on equity of 10.41% and a net margin of 21.64%.The business had revenue of $178.98 million for the quarter, compared to analyst estimates of $176.51 million. During the same period last year, the business posted $0.40 EPS. The Descartes Systems Group's revenue was up 10.0% on a year-over-year basis. As a group, sell-side analysts forecast that The Descartes Systems Group will post 1.64 earnings per share for the current fiscal year.

About The Descartes Systems Group

The Descartes Systems Group Inc provides cloud-based logistics and supply chain management solutions worldwide. Its Logistics Technology platform offers a range of modular, interoperable web and wireless logistics management solutions. The company provides a suite of solutions that include routing, mobile, and telematics; transportation management; ecommerce, shipping, and fulfillment; customs and regulatory compliance; global trade intelligence; broker and forwarder enterprise systems; and B2B messaging and connectivity services.

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